Raising a family on a single income has never been easy, but thanks to the rising costs of living, it’s become more difficult than ever before. As a parent, you want to raise your kids well and ensure they have everything they need, but how do you accomplish this if you have a tight budget with no wiggle room? Borrowing money just to pay the bills is never advisable, so instead, it’s time to think frugally.
We’ve put together a list of practical budgeting hacks for families who are struggling to get by on a single income. These budgeting strategies can help ease financial stress.
Meal Planning Saves Money and Reduces Food Waste
One of the biggest areas where families can save money is on food. Did you know that a typical family of four accounts for approximately $1,500 worth of food waste yearly? It may not seem like a lot when you throw out items here and there, but it adds up. Just imagine what that $1,500 could be used for otherwise. Finding ways to reduce food waste isn’t difficult, and once you make these tips a habit, the savings will quickly appear.
The best tip is to make a weekly meal plan. Map out all three meals for each day of the week, looking for ways to use leftovers and carry over items. This may require a little creativity at first, but you’ll get used to it.
After creating a meal plan, you can then build a shopping list. Write down all the items you need. If they are not already on hand, add them to your list. Some people prefer working in reverse, and building a meal plan based on the items they have in their pantry, fridge, and freezer.
When grocery shopping, make sure you don’t veer from the list. If it’s not on the list, you don’t need it. The end caps and the checkout aisles are known for especially tempting items, but don’t be fooled. Sticking to your grocery list is a money saver right there.
If you’ve never used a grocery list before, consider trying a free meal planning app to streamline your shopping. There are even meal planning apps that offer meal ideas and automatically create a grocery list for you. You may even want to look for recipes that are labeled as “budget-friendly.”
Indulge Your Inner Green Thumb: Plant Vegetables, Fruits, and Herbs
Still on the topic of food and grocery shopping, here’s another tip that can save you money. Planting vegetables, fruits, and herbs can lead to significant savings. This not only saves money but also provides you with a variety of healthy ingredients to choose from. Even if you don’t have a backyard or balcony, many vegetables, herbs, and fruits can thrive indoors.
Some of the easiest items to grow indoors include basil, lettuce, thyme, kale, rosemary, sage, chives, beets, and carrots. There are numerous resources online offering guidance on growing crops indoors, including advice on soil, lighting, watering, and fertilization.
Shopping Secondhand Can Help the Wallet
Secondhand shops can be a treasure trove of savings. It’s not unheard of to find designer pieces and items that are brand new. These are huge scores. Don’t be surprised to also get savings well above 50%. Shopping secondhand is especially practical for children, as they quickly outgrow clothing and footwear.
Just think about how quickly they grow out of their clothing and footwear. In a span of just a few months, everything is too short and tight, which means you need to spend more money. If you can find like-new and new items at a secondhand store for a fraction of the price, why not do it?
On the flip side, you can also sell items that you no longer need or want. Items can be listed on Facebook Marketplace or through one of the popular resale apps or platforms.
Look for Free Activities in Your Town or City
No matter what town or city you live in, there are bound to be tons of free things you can do. Everyone is quick to suggest a trip to a science center, zoo, or museum, but these can be pricey for a family. Instead, why not focus on the free activities?
Your town or city may offer free admission to local attractions on a specific day of the week or time of day. Parks, the local beach, hiking trails, and so on are free to enjoy. Your local library likely also offers great activities and workshops for kids and adults.
Find Ways to Entertain the Family at Home
A big hidden money pit that families can fall into is impulsive entertainment spending. For instance, the occasional wager is fine, but frequent splurges at casinos or on lottery tickets can quickly derail even the most carefully managed budget. Entertaining the family at home may sound like a daunting task, but just think of how much you can save.
Here are some fun activities families can enjoy at home, all without spending a dime:
- Board games
- Family-friendly video games
- Pictionary
- Arts and crafts (use items you’ve found in nature)
- Cooking together
- Movie nights
- Puzzles
- Scavenger hunts
- Dance parties
- Backyard games
What works for your family will depend on the ages of your kids and everyone’s interests. Mix up the activities each week so no one gets bored. You can even let each person in the family take a turn picking the activity for the day or week.
There’s No Need to Feel Like You’re Making Sacrifices
The great thing about these tips is that you can save money without feeling as though you must make huge sacrifices. You’ll still be eating well, engaging in fun activities, enjoying family entertainment, and making the most of life. Getting by on a single income is challenging, but once you start using these tips, they will quickly turn into valuable habits that will help you stay ahead financially.
